Full text of Federal Reserve Bank of New York Circulars : 6563. July 3, 1970 -- a Bank Holiday in New Jersey

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FE DE RAL RE SE R VE BANK
O F N E W YORK

rC ircular No. 6 5 6 3 " !
June 25, 1970
J

July 3, 1 970—a B ank H olid ay in N ew Jersey

To the Member Banks and Nonmember Clearing Banks
of the Second Federal Reserve D istrict:

By Executive Order, the Governor of the State of New Jersey
has ordered and directed that Friday, July 3, 1970, be a bank holiday
in that State. As a result, under Section 36:1-1 of the New Jersey
Revised Statutes, cash items and noncash items otherwise presentable
for acceptance or payment in New Jersey on that day are deemed to
be payable and are presentable for acceptance or payment on the next
business day, July 6. Corresponding delays will result in the return
of unpaid items and in the forwarding of advices of nonpayment of
such items.
We will continue to consider July 3, 1970 a business day with
respect to availability of credit for cash items sent to this Bank that
are payable by, at, or through banks in New Jersey.




A

lfred

H

ayes,

President.